Recently The Nyhart Company of Indianapolis, Ind. was named one of The Principal 10 Best Companies for Employee Financial Security. http://www.principal.com/about/news/2013/crp-10best-111913.htm
As a winner, they were featured in national media outlets such as Fox Business and Yahoo! Finance as well as local media outlets including the Indianapolis Star. The company’s employees already knew that this 70-year-old employee-owned company valued them as was evident at the award ceremony. A picture of just some of their 110 associates on the day of the recognition event:
There are several things The Nyhart Company has done that led to them standing out as a company concerned about their employees’ financial security:
- In the past decade the company has added a health management program that includes annual wellness screenings and on-site fitness facilities at their headquarters
- The company focuses on helping employees stay on track to meet their financial goals (the company is an independent actuarial and employee benefits consulting firm). The firm educates employees on their retirement replacement ratio. Between their employee stock ownership plan (ESOP) and 401(k) contributions, their average retirement savings rate is 16% , well above national averages
- The Nyhart Company emphasizes staff development. The company offers tuition reimbursement, leadership development, mentoring, and professional certification programs. Forty two percent of their employees are receiving professional designations.
In its 11 years The Principal 10 Best Companies for Employee Financial Security has recognized 110 companies for their commitment to their employees. You can learn more about the program and the winners at http://www.principal.com/10best. You can also benchmark your benefits to see how they compare to the 10 best.
In addition to blogging here, I also tweet regularly about topics of interest to ESOPs. Click to follow me on Twitter – @jlripperger.
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Insurance products and plan administrative services are provided by Principal Life Insurance Company a member of the Principal Financial Group® (The Principal®), Des Moines, IA 50392.